79271 Republic of Côte d’Ivoire: Block CI-27 Gas Field Expansion Project SUMMARY OF DISCUSSION Meeting of Executive Directors of IDA June 18, 2013 Directors approved the proposed IDA Partial Risk Guarantee to the Republic of Côte d’Ivoire in the amount of US$60 million equivalent for the Block CI-27 Gas Field Expansion Project on the terms and conditions set out in the President’s Memorandum (IDA/R2013-0140). Ms. Aviel wished to be recorded as abstaining. Directors underscored the project’s pivotal role in addressing the key challenges facing the country’s gas-to-power sector. They particularly welcomed how the Partial Risk Guarantee would leverage much needed private investments to maintain the supply of clean natural gas for lower cost electricity supply in a fragile state. They also highlighted the catalytic role of the guarantee and previously approved investment will have on supporting jobs and growth, as well as assisting in post conflict recovery efforts. The importance of continued efforts to increase transparency and accountability of governance standards in the sector was also stressed. Directors acknowledged the Project’s development impact in expanding and renewing infrastructure while also helping reduce CO2 emissions. At the same time, Directors emphasized the need to closely monitor environmental and social impacts and ensure that management plans are implemented in accordance with the World Bank Group performance standards. Directors were also encouraged by the Government’s implementation of the power sector financing recovery plan, and noted the challenges in restoring the financial sustainability of the sector, particularly regarding tariff adjustment. Finally, they appreciated the close collaboration between the various arms of the World Bank Group and encouraged similar efforts in Africa and elsewhere.                                                               This summary is not an approved record.